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Property profile & analytics
FOR SALE
Retail space
623 Massachusetts St Lawrence, KS 66044
Individually Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US33-0852534
For Sale
1 / 3
$3,500,000
623 Massachusetts St, Lawrence, KS 66044
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1934
Construction
FRAME
Total area
11,545 SF
Lot
0.2 ac (8,712 SF)
APN
079-30-0-30-18-007.00-0
UPID
US33-0852534
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Black Stag Brewery & Pub Bar & Pub Restaurant
-
Professional Engineering Consultants Engineering Consultant Civil Engineer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$745k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.47M
Blend (final)
Blend
$1.11M
Owner & transaction history
Craig Lee Marsh · 9 yrs held
Craig Lee Marsh
since 2017
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.7M
+60.1%
Auto repair, garage
$1.5M
+43.9%
Medical building
$1.2M
+14.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lawrence submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lawrence submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$745,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,075,000
Current use
RESTAURANT
$1,720,000
Change: +60% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,545,000
Change: +44% · Conversion: Difficult
MEDICAL BUILDING
$1,225,000
Change: +14% · Conversion: Difficult
OFFICE BUILDING
$1,185,000
Change: +10% · Conversion: Easy
Blend value · Realmo final
$1.11M
Range $999k – $1.22M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$96 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$55,178
Tax year 2023
Assessed value
$420,801
Assessed 2023
Previous assessed
$420,801
+0.0% YoY
Effective rate
13.11%
On assessed value
Assessed land
$85,923
Assessed improvement
$334,878
Land market value
$343,690
Improvement market value
$1,339,510
Total market value
$1,683,200
Applied tax rate
41.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1934
Construction
FRAME
Heating
YES
Cooling
AC.PACKAGE
Stories
2
Total area
11,545 SF
Lot
0.2 ac (8,712 SF)
APN
079-30-0-30-18-007.00-0
UPID
US33-0852534
Jurisdiction
DOUGLAS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.1M
RESTAURANT
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.2M
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1934
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
2
Lot
0.2 ac
Current owner
From public records · entity-resolved
Craig Lee Marsh
Individual
Mailing address
2512 ATCHISON AVE, LAWRENCE, KS 66047-2620
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 7, 2017
—
Craig Lee Marsh
—
Deed
related
$700,000 · Intrust Bank NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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